News

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Thu, 25 Oct 2018 09:47:12 GMT

Saudi Arabia continues developing large projects

It was revealed on Thursday that Saudi Arabia will continue developing large projects like the Red Sea tourism project, NEOM and the Six Flags recreational park.

Thu, 25 Oct 2018 09:46:46 GMT

China and Japan want to improve ties

On Thursday, it was revealed that the Japanese Prime Minister visited Beijing for a summit with the Chinese leaders in an effort to improve economic ties.

Thu, 25 Oct 2018 09:25:09 GMT

Jaguar sees annual output hitting 100K cars at Slovak plant by 2020

Britain's automaker Jaguar Land Rover is expecting its annual production to hit 100K vehicles at its Slovak factory by 2020, the CEO of the recently launched plant, Alexander Wortberg, stated on Thursday.

Thu, 25 Oct 2018 09:20:58 GMT

China's Wingtech to buy Denmark's Nexperia in $3.6B

The world's biggest smartphone contract maker Wingtech Technology has agreed to acquire the Dutch semiconductor chipmaker Nexperia Holding in a deal valued at $ 3.6B.

Thu, 25 Oct 2018 08:12:19 GMT

Orange posts 3% rise in Q3 operating profit

The French largest telecoms operator Orange reported a 3% jump in its Q3 core operating profit, despite tough competition in the company's home country and its neighbouring Spain.

Thu, 25 Oct 2018 08:05:05 GMT

Tesla's Model 3 to be launched in Australia in mid 2019

On Thursday, Tesla's CEO Elon Musk stated that the new Model 3 electric vehicle would be available on Australia from the middle of 2019.

Thu, 25 Oct 2018 07:21:28 GMT

Pershing Square takes stake in Hilton Worldwide

Pershing Square Capital, a group owned by the activist investor William Ackman, took a 3.4% stake in Hilton Worldwide Holdings, according to the activist hedge fund's statement on Thursday.

Thu, 25 Oct 2018 07:16:15 GMT

CommScope considers buying set-top box producer Arris

CommScope Holdings, the US telecommunications equipment manufacturer, is in negotiations to acquire the set-top box producer Arris International, seeking to expand its services, sources reported on Wednesday.

Thu, 25 Oct 2018 06:35:33 GMT

Nokia reveals new cost-cutting plan amid profit results

On Thursday, Nokia, the telecom network equipment producer, has launched a new programme to cut costs after posting another slide in its quarterly profits.

Thu, 25 Oct 2018 06:34:21 GMT

Covestro to phase out 900 jobs globally in efficiency push

The German firm Covestro is planning to cut about 900 job positions globally and cut costs by €350M annually from 2021, as part of the company's plan to widen the output capacity.

Thu, 25 Oct 2018 04:09:31 GMT

Microsoft profit, sales beat estimates over cloud growth

Microsoft beat Wall Street forecasts for profit and revenue in the Q1, as more companies signed up for Office 365 software and Azure cloud services.

Thu, 25 Oct 2018 04:02:55 GMT

South Korea GDP growth misses expectations in Q3

The South Korean economy expended at slower-than-expected pace in the Q3, as a drop in local investments offset the positive contribution from resilient exports and government stimulus.

Thu, 25 Oct 2018 02:36:39 GMT

Ford profit above estimates in Q3

Ford Motor reported slightly higher-than-anticipated profit in the Q3 and stuck to targets for 2018, raising investor hopes for the solid Q4 and sending shares up 7% after-hours.

Thu, 25 Oct 2018 02:33:58 GMT

UK car output drops in September

British car production fell 16.8% last month, affected by new emissions regulations, trade tensions, model changes and uncertainty over Brexit and diesel policy, an industry body stated.

Wed, 24 Oct 2018 19:51:27 GMT

Mexico inflation growth below expectations in early October

Mexican yearly inflation in the October's first half rose less than anticipated, official data revealed on Wednesday, though the rate remained above the Central Bank's target.

Wed, 24 Oct 2018 19:17:06 GMT

Daimler, Geely to form ride-hailing JV in China

China's Geely Group and Germany's Daimler announced on Wednesday that they are set to form a premium class ride-hailing cooperative enterprise in China.

Wed, 24 Oct 2018 19:06:55 GMT

Investment in Greece to increase 12% to 14% next year

Investment activity in Greece is anticipated to accelerate in 2019, helping growth rate to increase to 2.4% from an estimated 2.0% this year, according to a quarterly report by the IOBE.

Wed, 24 Oct 2018 17:50:23 GMT

Snap hires executive of Amazon as CBO

Snap announced the decision to name Jeremi Gorman, Amazon's head of advertising, as chief business officer, according to an internal memo.

Wed, 24 Oct 2018 17:50:14 GMT

Value of EZ banks drops by third from this year's peak

The value of banks in the Euro zone collapsed by a third since markets reached their peak at the January end, data revealed on Wednesday, as another quarter of weak profits at Deutsche Bank dragged the sector down.

Wed, 24 Oct 2018 17:05:15 GMT

UPS profit growth overshadowed by trade conflict worries

United Parcel Service reported a 20% increase in quarterly profit, though shares fell 3.5% after it stated that the US trade conflict with China affected international results.

Wed, 24 Oct 2018 17:00:39 GMT

Saudi Crown Prince sees 2.5% economic growth in 2018

Mohammed bin Salman, the Crown Prince of Saudis, stated that the kingdom is set to continue with reforms and infrastructure spending, predicting the economy to expand 2.5% this year.

Wed, 24 Oct 2018 16:02:44 GMT

Carlsberg lifts profit estimates for 2018

Danish brewer Carlsberg raised its full-year forecast, citing execution of the efficiency programme and after a warm weather in Western Europe supported sales, among other factors.

Wed, 24 Oct 2018 16:00:56 GMT

Boeing hikes profit, sales forecasts

Boeing shares jumped after it reported better-than-expected quarterly profits and cash flow, supported by growing demand, solid defence sales and services, and raised its 2018 profit and sales estimates.

Wed, 24 Oct 2018 15:28:34 GMT

BoC hikes interest rates, hails new trade pact

The Bank of Canada hiked interest rates in line with expectations, adding that more hikes could be required to keep inflation in check, also hailing new trade pact it anticipated to reduce economic uncertainty.

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